Buy to rehab this beautiful Victorian in Islandview for $85K

Another unique rehab opportunity has just hit the market. This time it’s a stunning Victorian home in the Islandview neighborhood on Detroit’s east side.

The home itself, built in 1905 according to the realtor, is listed for $85,000. But it’s going to require a lot of work.

The exterior of the 3,854-square-foot home demonstrates all the potential, and challenges, of the restoration project. The Victorian has a lovely turret and decorative corbels. But it’s missing some windows and fascia. It also look as if the roof will need to be replaced and the porch ceiling is just plywood at the moment.

The situation gets a little rougher inside, where there’s peeling plaster everywhere, no risers on the main staircase, gaps in the walls and ceilings, and other issues. The floor will also need to be replaced, the fireplace restored, bathrooms and kitchens updated, etc. We’re obviously not sure about bigger structural issues or the state of the plumbing and electrical—but it’s safe to assume the new owner will need to update those as well.

That said, there’s gorgeous wood panelling, trim, pocket doors, and more throughout the house. You’d have to put in a lot of money, but the results could be spectacular.

What makes this renovation even more unique is that the Detroit Land Bank Authority is the current owner and is seeking development proposals for the R5-zoned property, meaning it was most recently rental apartments. The new owner will also be required to submit an itemized list of costs and sign a developer’s agreement.

Want to take on this restoration? 385 E. Grand Boulevard is listed with James Bufalino and Premier Property Services for $85,000. Best and final proposals should be submitted via email to james@ppsam.com by January 25 at 5 p.m.